Could Las Vegas Sands Exit Las Vegas?
Bloomberg reported late on Monday that Las Vegas Sands (NYSE: LVS) could be exploring the sale of its Las Vegas casino complex. The report indicated that talks were in the early stages, but the fact that there are talks at all -- and they were confirmed by the company -- is a big deal.
The early price tag on the Las Vegas assets is $6 billion, or about 12 times EBITDA, a proxy for cash flow coming from a resort. That's a relatively high multiple for resorts that aren't growing, but this is a low-interest-rate environment with high asset values, so maybe there's interest at that price.
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Source Fool.com
